TLDR:
– Catalyst Fund, a pre-seed VC and accelerator, invests $1.8 million in nine African climate tech startups
– The startups focus on addressing climate-related challenges in various sectors such as agriculture, healthcare, energy access, and waste management
Article Summary:
Catalyst Fund, a pre-seed VC and accelerator, has recently invested $1.8 million in nine African early-stage climate tech startups to support their impact and growth trajectory. The startups benefiting from this investment include companies from Tanzania, Nigeria, Kenya, Egypt, South Africa, and Senegal. Notable investors in Catalyst Fund include FSD Africa, FSDAi, Cisco Foundation, USAID Prosper Africa, and Andrew Bredenkamp. The investment aims to empower farmers, healthcare providers, waste workers, and small and medium businesses to effectively adapt to the impacts of climate change. This latest investment marks Catalyst Fund’s second round of investments in African startups addressing climate change challenges, expanding its portfolio to include 19 companies operating in eight diverse markets across Africa.
In 2023, Catalyst Fund allocated $2 million to ten startups focused on developing solutions for Africa’s climate-vulnerable communities. The Catalyst Fund team provides comprehensive venture building support to these startups, integrating them as extensions of their own teams. The investment comes in the wake of a survey revealing that over 110 million Africans faced direct consequences from climate-related hazards in 2022, resulting in economic damages exceeding $8.5 billion.
With this latest investment, Catalyst Fund is committed to diversifying its portfolio across various models, climate adaptation sectors, and geographic regions. In 2022, Catalyst Fund secured a $3.5 million investment from FSD Africa to bolster pre-seed impact ventures focused on developing solutions for marginalized climate-vulnerable communities in Africa. The fund’s objective is to support 40 startups through offering comprehensive venture-building assistance. Overall, Catalyst Fund continues to play a crucial role in supporting African startups addressing climate change challenges and fostering economic growth with a positive climate impact.
